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NEWS
Six Flags admits China theme park projects could be shelved
POSTED 13 Jan 2020 . BY Andy Knaggs
The Six Flags park in Zhejiang Province was due to open later this year
The stop-start affair that is Six Flags' expansion into Chinese territory may never come to fruition it seems after the US theme park operator revealed continuing problems with its partner in China.

The company said in a regulatory filing that real estate developer Riverside Investment Group had defaulted on payments "due to a declining market" and that the development of Six Flags-branded parks in China had "encountered continued challenges and has not progressed as expected".

"While the company continues to work with Riverside the eventual outcome is unknown and could range from the continuation of one or more projects to the termination of all the Six Flags-branded projects in China," said the statement.

Six Flags' first Chinese park – at Zhejiang Province – was scheduled to open in 2020, although this would seem far from certain now. Additional projects in Nanjing and Chongqing have also been subject to delays.

In October 2019, Six Flags CEO Jim Reid-Anderson spoke of the frustrations the company was facing in getting its China projects off the ground, saying "part of it is our partner, part of it is the economy, part of it is the local government saying this is when we can have everything ready for you in order to be able to open a park".

The company also had to shelve plans for a Dubai theme park last year, after funding problems with its partner DXB Entertainments.
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Jobs   News   Products   Magazine
NEWS
Six Flags admits China theme park projects could be shelved
POSTED 13 Jan 2020 . BY Andy Knaggs
The Six Flags park in Zhejiang Province was due to open later this year
The stop-start affair that is Six Flags' expansion into Chinese territory may never come to fruition it seems after the US theme park operator revealed continuing problems with its partner in China.

The company said in a regulatory filing that real estate developer Riverside Investment Group had defaulted on payments "due to a declining market" and that the development of Six Flags-branded parks in China had "encountered continued challenges and has not progressed as expected".

"While the company continues to work with Riverside the eventual outcome is unknown and could range from the continuation of one or more projects to the termination of all the Six Flags-branded projects in China," said the statement.

Six Flags' first Chinese park – at Zhejiang Province – was scheduled to open in 2020, although this would seem far from certain now. Additional projects in Nanjing and Chongqing have also been subject to delays.

In October 2019, Six Flags CEO Jim Reid-Anderson spoke of the frustrations the company was facing in getting its China projects off the ground, saying "part of it is our partner, part of it is the economy, part of it is the local government saying this is when we can have everything ready for you in order to be able to open a park".

The company also had to shelve plans for a Dubai theme park last year, after funding problems with its partner DXB Entertainments.
RELATED STORIES
Michael Spanos named new Six Flags president and CEO


PepsiCo executive Michael Spanos has been appointed as president and CEO of Six Flags Entertainment Corporation, replacing Jim Reid-Anderson in both roles with effect from 18 November 2019.
China and Saudi Arabia projects subject to potential further delays, says Six Flags boss


International licensing and the scheduling of new park openings abroad continue to be a challenge for Six Flags Entertainment Corporation, with parks currently under construction in China and Saudi Arabia both subject to potential further delays.
Six Flags chases another record year as promotions help increase membership numbers


Six Flags Entertainment Corporation is targeting its tenth consecutive year of growth, despite a mixed bag of September year-to-date results that included increased attendance, but reduced guest spending per capita.
Six Flags franchises back on track as work in China set to restart


Six Flags is starting to get back on track with its international projects after the operator revealed it expected to resume development on its halted China projects within the next six months.
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OdySea Aquarium in Scottsdale, Arizona, has launched two online initiatives to help keep guests entertained and engaged with the aquarium during its enforced closure.
National parks in Africa close down to protect endangered gorillas and chimpanzees from coronavirus
All of the national parks in Congo and Rwanda featuring primates have closed their doors to visitors in an effort to avoid Africa's endangered mountain gorillas and chimpanzees from contracting COVID-19.
Public comes to zoo's aid following call for animal food donations
Local residents and businesses have come to the aid of a zoo which said it might have to euthanise animals after panic buying disrupted its supply feed.
BALPPA moves annual expo to November
The British Association of Leisure Parks, Piers and Attractions (BALPPA) has postponed its upcoming expo and tradeshow in the wake of the COVID-19 pandemic.
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COMPANY PROFILES
Polin Waterparks

Polin was founded in Istanbul in 1976. Polin has since grown into a leading company in the waterpa [more...]
Sally Corporation

Our services include: Dark ride design & build; Redevelopment of existing attractions; High-quality [more...]
Simworx Ltd

The company was initially established in 1997. Terry Monkton and Andrew Roberts are the key stakeh [more...]
FORREC Ltd

We create guest experiences others don’t, masterplan like no one else can, and give the world’s bi [more...]
+ More profiles  
FEATURED SUPPLIER

Healthy appetite for investment at EAG International 2020
A buoyant EAG International has welcomed in the new decade as a well-rounded event with high levels of optimism and positivity on the show floor. [more...]
VIDEO GALLERY

Red Raion - Trailer Peter Pan - Saving Tinkerbell VR
Red Raion is the CGI studio specialized in media based attraction. Find out more...
More videos:
Red Raion Showreel 2019 – Red Raion
Red Raion: Meet the Team - Introduction – Red Raion
Online Print Made Easy! – instantprint
+ More videos  

CATALOGUE GALLERY
+ More catalogues  
DIRECTORY
+ More directory  
DIARY

 

31 Mar - 02 Apr 2020

World Travel Market Latin America

Expo Center Norte, Sao Paulo, Brazil
08 Oct 2020

VAC 2020 (The Annual National Conference of Visitor Attractions)

Queen Elizabeth II Conference Centre, London, United Kingdom
+ More diary  
 


ADVERTISE . CONTACT US

Leisure Media, Portmill House, Portmill Lane,
Hitchin, Hertfordshire SG5 1DJ Tel: +44 (0)1462 431385

©Cybertrek 2020

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